Saudi Arabia’s crude shipments surge to highest level since Iran war began

Saudi Arabia managed to push crude oil exports to 5.28 million barrels per day in September 2026, the highest monthly average since the US-Iran conflict erupted in early 2026. The recovery is all the more striking given that just one month earlier, shipments had cratered to levels not seen in nearly a decade.

From pipeline disruption to Gulf pivot

Saudi Arabia’s East-West pipeline, which feeds crude to the Red Sea port of Yanbu, was knocked offline by drone attacks earlier this year. That pipeline had been a critical artery for reaching European and Mediterranean buyers without transiting the Strait of Hormuz.

Without it, August exports collapsed to somewhere between 2.4 and 3 million bpd, the kingdom’s lowest export volumes in nine years.

Aramco’s response was to pivot hard toward its Gulf coast terminals. By September, the company had abandoned Yanbu loadings entirely. No tankers were filled at the Red Sea port after September 12.

On or around September 21 alone, Aramco loaded roughly 14 million barrels onto seven very large crude carriers at Gulf terminals.

Ship-to-ship transfers and Omani workarounds

Aramco sold approximately 60 million barrels for September and October delivery using ship-to-ship transfers staged at Sohar, Oman, just outside the Strait of Hormuz. Sohar sits on Oman’s northern coast, positioned at the mouth of the Gulf of Oman. Using it as a staging ground allowed Aramco to consolidate smaller shipments into VLCC-sized loads headed for Asian and other long-haul buyers, minimizing the number of individual transits through the Strait of Hormuz.

Why the recovery matters for oil markets

The comparison to February 2026 is notable. That month, before the worst of the regional disruptions hit shipping lanes and pipeline infrastructure, Saudi exports were running at roughly similar levels. Getting back to that baseline in September suggests that Aramco has, at least temporarily, found a way to maintain near-normal throughput despite losing a major pipeline route.

Concentrating all export volume through the Strait of Hormuz increases the kingdom’s exposure to any escalation that might threaten that chokepoint. Roughly 20% of global oil supply transits the Strait under normal conditions.

The ship-to-ship operation at Sohar also introduces cost and complexity. These transfers require specialized equipment, calm sea conditions, and additional insurance coverage. Scaling them to 60 million barrels over two months is an expensive proposition, even for a company with Aramco’s resources.